Howmet Aerospace Inc. $HWM Stake Lifted by Cornerstone Advisors LLC

Cornerstone Advisors LLC increased its holdings in shares of Howmet Aerospace Inc. (NYSE:HWM) by 53.1% during the third quarter, HoldingsChannel reports. The firm owned 22,006 shares of the company’s stock after buying an additional 7,635 shares during the period. Cornerstone Advisors LLC’s holdings in Howmet Aerospace were worth $4,977,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of HWM. BlackRock Inc. bought a new stake in Howmet Aerospace in the 2nd quarter worth about $12,318,939,000. State Street Corp raised its position in Howmet Aerospace by 3.3% in the 2nd quarter. State Street Corp now owns 18,933,928 shares of the company’s stock worth $5,090,576,000 after buying an additional 612,866 shares during the last quarter. Bank of America Corp DE bought a new position in Howmet Aerospace during the 2nd quarter valued at about $2,766,806,000. Jupiter Topco LLC bought a new position in Howmet Aerospace during the 2nd quarter valued at about $2,065,086,000. Finally, Bank of New York Mellon Corp bought a new position in Howmet Aerospace during the 2nd quarter valued at about $1,099,765,000. 90.46% of the stock is owned by institutional investors.

Howmet Aerospace Trading Down 1.1%

Shares of NYSE:HWM opened at $220.72 on Friday. The stock has a 50 day moving average of $219.89 and a 200 day moving average of $248.29. The company has a market cap of $87.77 billion, a PE ratio of 43.19, a price-to-earnings-growth ratio of 1.63 and a beta of 1.31. The company has a current ratio of 1.86, a quick ratio of 0.90 and a debt-to-equity ratio of 0.70. Howmet Aerospace Inc. has a 12-month low of $183.52 and a 12-month high of $310.00.

Howmet Aerospace (NYSE:HWM) last issued its earnings results on Thursday, October 29th. The company reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.09. The company had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.59 billion. Howmet Aerospace had a net margin of 21.10% and a return on equity of 36.44%. Howmet Aerospace’s quarterly revenue was up 29.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.95 EPS. As a group, equities research analysts expect that Howmet Aerospace Inc. will post 5.49 EPS for the current year.

Howmet Aerospace Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Friday, November 6th will be given a dividend of $0.14 per share. The ex-dividend date is Friday, November 6th. This represents a $0.56 annualized dividend and a dividend yield of 0.3%. Howmet Aerospace’s dividend payout ratio (DPR) is presently 10.96%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on HWM. Citigroup reiterated a “buy” rating on shares of Howmet Aerospace in a research note on Tuesday, October 27th. Guggenheim started coverage on shares of Howmet Aerospace in a research report on Monday, September 14th. They set a “buy” rating and a $350.00 price objective on the stock. Wells Fargo & Company lowered their price objective on shares of Howmet Aerospace from $315.00 to $255.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 30th. JPMorgan Chase & Co. raised their target price on shares of Howmet Aerospace from $310.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, August 10th. Finally, Zacks Research downgraded shares of Howmet Aerospace from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $295.81.

Howmet Aerospace Company Profile

Howmet Aerospace designs and manufactures engineered metal products for the aerospace, commercial transportation and industrial markets. Its products include components for aircraft engines and airframes, fastening systems, and forged aluminum wheels for commercial trucks. The company operates through businesses focused on engine products, fastening systems, engineered structures and forged wheels. Its components and systems are used by aerospace manufacturers and suppliers, as well as customers in transportation and other industrial sectors.